Petal Credit Card 2021 Extensive Review and Benefits Seen
Petal Credit Card is best for anyone nurturing a fair credit history, especially as it is a no annual fee credit card. In fact, It’s one of the only no-annual-fee cards available to those with fair credit with the potential to earn up to 1.5% cashback, making it a rare specimen among unsecured credit cards aimed at building credit.

Highlights
- No fees whatsoever. No late fee, international fee, annual fee, or any-other-kind-of-fee, fee.
- Up to 1.5% cash back after making 12 on-time monthly payments
- 1% cash back on eligible purchases right away
- 2% – 10% cash back from select merchants
- $500-$10,000 credit limits
- Variable APRs 12.99%-26.99%
- Build credit alongside tens of thousands of Petal Card members
- Cash flow technology may help applicants without credit history get approved
- Petal’s mobile app makes it easy to manage your money, track your spending, and automate payments
- See if you’re pre-approved within minutes without impacting your credit score
- Petal reports to all 3 major credit bureaus
- No deposits required
- Card issued by WebBank, Member FDIC
Fees & Interest
- 12.99% – 26.99% (Variable) APR
- No introductory APR offered
- $500 minimum and can reach up to $10,000
- Annual Fee: $0
- Late Penalty: None
- Foreign Purchase Transaction Fee: $0
- Returned Payment Fee: None
Card Benefits
- Uber Credit Via Visa Offers: Register your Visa through your Uber account and automatically earn Uber credits when you use your card to purchase Visa Offers
- Auto Rental Collision Insurance: Receive secondary rental car coverage for damage or theft to your rental vehicle when you pay with your Petal 1 card and decline the rental company’s collision damage waiver
- Roadside Dispatch: Get access to roadside dispatch, Visa’s pay-per-use roadside assistance program
- Lost or Stolen Card Assistance: Visa can help you get an emergency replacement card and arrange for cash to be delivered to you
Earning Rewards
The Petal 2 Visa Credit Card works on a tiered cash back rewards system that rewards cardholders for making on-time payments.
Cardholders automatically earn 1% cashback on eligible purchases and have the opportunity to earn 1.25% cash back after six on-time, monthly payments and 1.5% cashback after 12 on-time, monthly payments. This is in addition to any purchases you might make that qualify for bonus rewards via Petal Offers.
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Redeeming Rewards

You can redeem your Petal 2 card rewards in any amount at any time as a statement credit by logging into your Petal card account and selecting “Perks” and then “Redeem.” You can also redeem by calling Petal and requesting a paper check be mailed to you or to receive a deposit to a qualifying checking account starting at a minimum of $20.
Pros of the Petal Credit Card
No Security Deposit
Many cards designed for those with limited credit are secured products, meaning they require an upfront cash deposit as collateral, usually at least a few hundred dollars that’s equal to your credit limit. You get the deposit back when you close the account (or upgrade it to an unsecured card), but it’s money you’ve got to come up with on the front end. The Petal® 2 “Cash Back, No Fees” Visa® Credit Card has no such requirement.
A Solid Rewards Program
The 1.5% maximum cash-back rate on the Petal® 2 “Cash Back, No Fees” Visa® Credit Card equals the ongoing rate on stalwart cards like the Capital One Quicksilver Cash Rewards Credit Card and the Chase Freedom Unlimited®. You’ll need a year of on-time payments to work your way up to the top rate, but even the 1% base rate is better than what you’ll get on most starter cards.
No Fees
Petal® 2 “Cash Back, No Fees” Visa® Credit Card cardholders pay no fees. That means a $0 annual fee, no late fees, no foreign transaction fees, or any other fees. You also won’t be charged a penalty APR if you’re late on a payment (although paying late can affect your credit scores).

The company makes money from merchant transaction fees and interest paid on revolving balances. You can avoid interest charges by paying your bill in full every month. Paying on time will also keep your credit scores in good shape.
Potentially High Credit Limit
Starter cards are known for low credit limits, but the Petal® 2 “Cash Back, No Fees” Visa® Credit Card offers up to $10,000 for those who qualify for such a limit (based on creditworthiness). With secured cards, your credit limit generally is only as high as the amount of your security deposit. Other alternative credit cards tend to offer lower credit limits.
Worthy Travel Companion
The Petal® 2 “Cash Back, No Fees” Visa® Credit Card is a travel-friendly card that can save you money when you’re abroad. It has no foreign transaction fees, which generally range from 1% to 3% per transaction for other credit cards. As a Visa card, it also has broad international acceptance.
How to use the Petal 2:
- Pay your bill on-time every month to secure the maximum cash back rate.
- Pay off your entire new balance by the due date every month to avoid the card’s high APR.
- Use the Petal app to build good financial habits by monitoring your spending, due dates and interest charges.
- Take advantage of the card’s free credit score tracking by regularly monitoring your credit.
Conclusion
If you’re a responsible spender with a limited credit history, there’s not much downside to the Petal 2. Given that most credit building cards offer little to no rewards, require deposits and fees or have low credit limits, the Petal 2 is an attractive option.

The card’s lack of annual and other account fees, the potential for a strong rewards structure, and the ability to qualify for a lower APR than most cards aimed at those working on building their credit has the Petal 2 card smelling sweet.
As long as you commit to paying your balance in full by the due date each month, this card could be a great first step on the path to building your credit.